Original article can be found here (source): Artificial Intelligence on Medium
4 Reasons Why AI is No Longer Just a Buzzword in Corporate Training
The saying maybe old is gold, but it doesn’t hold true for corporate training. For a long time, such training has been conducted with the help of onsite instructors. They use projectors and computers to display their slides, while the L&D department scrambles to coordinate timings between trainees across different departments and the trainers. This traditional method of training is inefficient and inflexible. Plus, learners get easily bored and often find the learning experience moving either too fast or too slowly.
The change came in the 1990s, when learning management systems were born, with the spread of information technology. These platforms contained online training resources, built by instructional designers. But, here too, the learning experience was linear and modules were often quite long and monotonous.
It has only been in the recent past, with the AI and the emergence of microlearning content, that corporate training has been completely revolutionized.
AI — No Longer Just a Buzzword!
The term artificial intelligence was first coined by John McCarthy in 1956. He described AI as machines that could complete tasks that traditionally required human intelligence. For a long time, it was seen as a thing of sci-fi movies. But today, artificial intelligence has seeped into almost every sphere, with some of the common examples being Siri, Alexa and Tesla. In fact, the revenue of the global AI software market was valued at $9.51 billion in 2018. The market is expected to grow to an astounding $118.6 billion by 2025.
The potential of AI is being recognized increasingly by businesses. In fact, 47% companies had adopted at least one AI capability in their business in 2018. AI is today easing business operations, customer services and even employee onboarding and training. AI is also being used for assimilating new hires seamlessly and quickly. In fact, 96% recruiters believe that AI can greatly improve talent acquisition and retention.
According to Gartner’s 2019 CIO Survey, 37% of the companies had implemented some form of AI, representing a whopping 270% increase over the past four years. What’s more, by 2021, it is estimated that 80% of emerging technologies will have their foundations in AI. In fact, IDC estimates that worldwide spending on AI systems could have grown to almost $35.8 billion in 2019.
How AI is Improving Corporate Training
The abilities of artificial intelligence are growing in leaps and bounds. It is not only replicating human actions, but even outperforming them in certain fields.
One area where it is proving invaluable is employee development. Some of the major advantages of AI in corporate training are…
Read more here.